In a research report released today, Canaccord analyst John Newman reiterated a Buy rating on shares of Mast Therapeutics Inc (NYSEMKT:MSTX) with a $3.00 price target, which represents a potential upside of 552% from where the stock is currently trading. The report comes ahead of the company’s top-line Phase 3 data for vepoloxamer in sickle cell disease, which is expected to be released in the first-quarter of 2016.
Newman noted, “Enrollment has now reached >70% of the planned n=388 patients, with ~2/3 of the patients coming from the US. The primary endpoint is reduction in time of Veno-Occlusive Crisis (VOC), but Mast will also measure time to re-hospitalization as a secondary endpoint. Importantly, the average age in the study is ~15 years, and Mast does expect hydroxyurea usage to be higher than seen in the general population.” Overall, the analyst expects the results to be positive.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst John Newman has a total average return of 10.6% and a 53.4% success rate. Newman has a -19.6% average return when recommending MSTX, and is ranked #324 out of 3734 analysts.
All the 3 analysts polled by TipRanks rate Mast Therapeutics stock a Buy. With a return potential of 407%, the stock’s consensus target price stands at $2.33.